Word: frondizi
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Dates: during 1960-1969
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...most sacrosanct of Latin American sacred cows is state control of production and processing of such fundamental resources as petroleum. Last week Argentina's President Arturo Frondizi,who is not bullied by sacred cows, took pen in hand and signed a $90 million deal whereby two U.S. companies and one British firm will build Argentina's first petrochemical plants to produce synthetic rubber and industrial chemicals. In many Latin lands, such action would have brought out the mobs to smash windows and shout "Yankee, no!" In Argentina, conditioned by three years of watching Frondizi leap from crisis...
Disillusioned Daughter. One factor in Frondizi's favor is his obvious dedication to the immense job of clearing away the economic and political wreckage left by 9½ years of Dictator Juan Perón. To get himself elected in 1958, Frondizi wooed the votes of both the nationalists and Perón's still-loyal masses, who believed in big government and big giveaways. Once in office, Frondizi decided that only austerity and a sizable injection of foreign capital could save Argentina. He then coolly sought the backing of the bitterly anti-Perón armed forces...
...Argentina, the government felt called upon to deny that it was breaking with Cuba-a gesture that did not conceal the anger of President Arturo Frondizi (once called a "viscous blob of human excrescences" by Cuban Foreign Minister Roa) over a new Castro-Communist campaign in Argentina to raise "10,000 volunteers to fight to defend Cuba." Across the Rio Plata in Uruguay, beset by labor troubles and riots. President Benito Nardone pointed up the undercover organizing work of Castro's ambassador by calling openly for a break with Castro. Colombia and Bolivia have quietly sent home the ambassadors...
...frantic bidding, a Fiat went for $7,000, a Ford station wagon for $15,000, a Buick for $23,000, a Cadillac for an incredible $50,000. When the ten-day auction ended, 617 cars had been sold, about $10 million had changed hands, and the government of Arturo Frondizi had cleaned up a tidy $7,500,000 in profits...
...what they wanted: the nouveaux riches got their flashy new status symbols, businessmen bought that company car and a tax write-off at the same time, and the government paid for its independence celebration. The opposition got something, too: an eight-cylinder issue to be used in twitting Arturo Frondizi's government for an austerity program that obliges the workers to tighten their belts, but permits the rich to blow millions on new cars...